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Bobby Powell, Dan Daley bill would offer tax credit for businesses offering college internships

The legislation would carve out a $2,000 corporate income tax credit per student intern.

A pair of Democratic lawmakers want the state to launch a tax credit program to encourage businesses to offer internships for college students.

The measures are being proposed by state Sen. Bobby Powell of West Palm Beach (SB 1412) and state Rep. Dan Daley of Coral Springs (HB 1101).

The legislation would carve out a $2,000 corporate income tax credit for a business or organization per student intern. That credit will be capped at $10,000 per taxable year.

“Most students must have part-time jobs to pay off educational expenses while balancing a full course load every semester. As a result, students miss out on an opportunity to gain valuable experience in their respective fields in order to make ends meet,” Powell said in a release announcing the bill’s filing.

“The implementation of SB 1412 will eliminate this disadvantage amongst a majority of students and allow equal representation in various fields.”

To qualify for the credit, a student intern must be seeking a degree “at a state university, a Florida College System institution, a career center operated by a school district … or a charter technical career center,” according to the bill’s language. The relevant institution must also provide documentation demonstrating that student is enrolled.

Any unused tax credit acquired under the statute could be carried forward for up to two tax years.

“This legislation would encourage businesses to provide our students with opportunities to advance their knowledge and experience, preparing them for a career or trade after college,” Daley added in a statement.

“This tax credit program will benefit all parties. Florida businesses will be incentivized to seek diverse, new talent and college students will receive hands on training in their area of study and be provided an opportunity that they may not be able to afford otherwise.”

Powell sponsored a similar bill last Session, but that effort died early on in the process. If successful this time around, the act would take effect on July 1, 2020.

Written By

Ryan Nicol covers news out of South Florida for Florida Politics. Ryan is a native Floridian who attended undergrad at Nova Southeastern University before moving on to law school at Florida State. After graduating with a law degree he moved into the news industry, working in TV News as a writer and producer, along with some freelance writing work. If you'd like to contact him, send an email to ryan.t.nicol@gmail.com.

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